Why are unions pushing for Retirement USA?
when the employees they represent have pension plans already? Could it be because the pension funds of union represented workers are grossly underfunded and Retirement USA would end their obligation to union members?
- Mogollon DudeLv 79 years agoBest Answer
All pensions have been looted . They are dreams in smoke .
- Anonymous9 years ago
There's nothing wrong with a retirement but it's to the point know where union workers in California can actually make more money yearly from there retirement pension then when they did while they are working, government unions are over pushing benefits and it's costing the system a lot of money.
Government workers are also exempt from paying social security which is not right, If someone has a retirement pension in the private sector they still have to pay social security. I say give everyone the same Social Security benefits when they retire and make them minimal, merge the social security tax with the federal income tax and then to save even more money you can prorate the money based on age, so example if the max benefit is X per year you give a 65 year old 75%*X for that year, when they are 66 you give them 76%*X per year.
Most people make it to age 65 very few people make it to 90, and you are more likely to deplete your savings at age 90. By prorating the benefits in this way it's the equivalent of increasing the retirement age cost wise but you still get something at 65. By keeping the benefits minimum if forces the higher income workers to find another method or retirement pensions to make up the difference and not grab it from the government but you keep it just low enough to ensure everyone gets something and the moral argument of you can't let the elderly go hungry is eliminated.
- pearlmarLv 79 years ago
Because they're not thinking about themselves. They're thinking about others who don't have retirement security.
While policymakers are thinking about budget deficits, millions of Americans face a massive and growing retirement income deficit – the gap between what people need for retirement and what they actually have. The do-it-yourself approach of relying solely on 401(k) plans doesn’t work. Employers are cutting back or dropping guaranteed pension plans. Half of the workforce has neither a 401(k) nor a pension to supplement Social Security.